AUSD Stablecoin Hacked on Polkadot – Katoch Tubes

AUSD Stablecoin Hack

What is aUSD?

aUSD (Acala USD) is the stablecoin of both Polkadot & Kusama ecosystem. It is issued by Acala protocol.

What is Acala?

Acala is a DeFi protocol on Polkadot blockchain. It hosts a range of financial services like staking, lending & borrowing.

What's the news?

Acala Protocol was hacked and a large amount of aUSD stablecoin has been printed & stolen by the hacker.

The Damage Caused

The hacker printed & stole $1.2 billion aUSD that resulted in de-pegging of stablecoin, hitting $0.5713

Security Vulnerability

The hack was caused  by a bug in the Acala iBTC/AUSD pool, causing the issue & drain of tokens

The recovery

The coin has recovered by 44% at the time of writing but this is concerning for aUSD since hack like these might end up like UST

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